2011 'Dream Employers' revealed

Little is being done by Australian companies to increase the instance of word-of-mouth recommendations from former or current employees, the 2011 Insync and RedBalloon Dream Employers Survey has revealed.
 
CEO of Insync Surveys James Garriock said that theoretically employees should be the biggest advocates of the organisations they work for, because they can help win new customers and attract new talent – yet employers are wasting these opportunities.
 
Garriock said: “If organisations harness the word-of-mouth power of their passionately engaged employees, the bottom line impact can be potent.”
 
The second annual survey canvassed the opinions of more than 7,000 Australians, and as the title suggests aims to uncover both specific organisations as well as areas which the workforce considers ‘dream’ working conditions.
 
The research showed that just 40% of all employees are satisfied with their job, 45% are planning to look for another role within the next 12 months and just one third (33%) were willing to recommend their employer.
 
Heading the list for the second time in a row was Google, followed by Self-employment, Virgin Group, Qantas and Apple. The desire for people to work for themselves appears to be increasingly strong, with many dreaming about the perks of saying goodbye to structured work environments.
 
When asked what employees most want to improve about their workplace, the top gripes were systems and processes (41%); communication (39%); and rewards and recognition (38%).
 
RedBalloon founding director Naomi Simson said: “Rewards and recognition are vital in attracting, developing and retaining key talent, and having a great company culture and high levels of employee engagement will be crucial once the thrill of a fatter pay cheque has worn off.”
 
When asked which factors employees like about working for their current employer, the top retention drivers were work-life balance (46%); culture (39%); and pay, benefits and conditions (33%).
 
Yet Simson advised that this finding should be taken as a warning to organisations that may put all their emphasis on big pay packets, as cash rewards don't necessarily inspire employee loyalty.
 
“Those who put all their eggs in the salary basket will pay the price with higher staff turnover rates, and reduced productivity from disengaged staff. And worse, they could become damaging brand ‘badvocates’.”

Research has shown that three quarters of companies have more critics than advocates. In almost all cases, customers are more likely to be advocates than employees, and this remains a major challenge for businesses.
 
The “badvocacy” findings are supported by a recent survey from international research and advisory firm the Corporate Executive Board, showing a significant rise in the percentage of employees who would not recommend their former employer, currently sitting at 75%, compared to 42% in 2008.
 
“The employee feel-good generated by a pay rise only lasts as long as it takes for the extra cash to be swallowed by the mortgage or credit card payment,” Simson added. Keeping people engaged is about being treated fairly, granting autonomy, and providing the opportunity to learn and develop with a sense of purpose, the report showed.
 
Other companies making this year’s list include Microsoft, OMD, Walt Disney, BHP Billiton, Getaway, United Nations, police force, Vodafone, NASA, Rio Tinto, departments of defence, Commonwealth Bank, Cadbury, Facebook and Lonely Planet.
 
The highest number of employees planning to look for another job within the year were currently employed in the energy, hospitality and state government sectors.

Source:http://www.hcamag.com/site-search/_2011dream-employers-revealed/117805?keyword=rewards